Markets subdued after US stocks ended mixed again - 19.4.2024

The Dollar strengthening has halted today. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended 0.2% higher on Thursday while Department of Labor data showed the number of Americans filing new claims for unemployment insurance rose less than expected last week.

Both GBP/USD and EUR/USD reversed their advancing on Thursday. Both euro and Pound are higher against the dollar currently. USD/JPY resumed its advancing yesterday while AUD/USD reversed its climbing with the yen higher against the Greenback currently and the Australian dollar lower still.

US stock index futures are lower currently with the yield on benchmark 10-year Treasury notes down at 4.555%. The three main stock benchmarks ended mixed on Thursday with daily returns in the range of -0.5% to 0.06% on more Fed officials’ comments that there was no urgency to ease as inflation is returning to the Fed’s 2 per cent target more slowly than expected.

European indexes futures are down today after stock indexes closed higher on Thursday with bank shares leading gains as the European Central Bank policymaker François Villeroy de Galhau said the central bank should cut interest rates in June to avoid falling behind the inflation curve. Asian stock indexes futures are retreating today with Japan’s Nikkei leading losses dragged by chipmaker shares after sector heavyweight Taiwan Semiconductor Manufacturing Corp lowered its outlook for expansion in the chip industry this year.

Brent is up currently after a spike following reports that Israel had attacked Iran. Prices retreated further on Thursday. West Texas Intermediate (WTI) futures slipped 0.1% but is higher currently. Brent futures slid 0.2% to $87.11 a barrel on Thursday.